Restaurant reservation website offers off-peak pricing

September 10, 2012 2:05:04 PM PDT
It's as simple as supply and demand. But it's an idea that's putting a whole new spin on eating out.

Ben Mckean is 26, and is co-founder and CEO of Savored, a restaurant reservation website that's built on a simple fact of life: time is money.

Like airlines, Savored offers cheaper meals for off-peak hours.

So a table at 9:30 on a Tuesday night at New York's famed 21 Club would cost customers 30 percent less than one for Saturday at 8 pm.

Considering the quality of the restaurant where dinner for two easily costs more than $150, that's huge.

But on the flip side, are customers really okay with the idea of paying more for peak dinner times once they know they can get it for less?

Peter Esmond, director of operations at rouge Tomate, says yes.

And with the amount of money this idea is bringing in so far, it's likely it's here to stay.


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